Country Profile
From The Report: Philippines 2019
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Spanning more than 300,000 sq km, the Republic of the Philippines reaches from Taiwan in the north to Indonesia in the south. The Philippines is the fourth-largest country in South-east Asia in territorial size and is home to some 175 ethnolinguistic groups across over 7000 islands. In terms of population, it has the 13th-largest population in the world and the seventh largest in Asia. According to the UN, the population reached 107.4m in the first quarter of 2019. Income inequality and uneven growth are problems that need addressing if the country is to escape the middle-income trap, with poverty incidence among Filipinos in the first quarter of 2018 estimated at 21%. This chapter also contains interviews with President Rodrigo Roa Duterte; and Teodoro L Locsin, Secretary, Department of Foreign Affairs.

Articles from this Chapter

Overview

Evolving nation: A history of trade and migration has created a diverse, globally minded society
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Spanning more than 300,000 sq km, the Republic of the Philippines reaches from Taiwan in the north to Indonesia in the south. In terms of territorial size, it is the fourth-largest country in South-east Asia after Indonesia, Myanmar and Thailand. Bordered by the South China Sea in the west and the Sulu and Celebes seas in the south, the Philippines is home to some 175 ethnolinguistic groups across over 7000 islands. The Spanish colonial period lasted more than three centuries from the 1500s, leaving…

Overview

Filling the gap: The administration continues its focus on inclusive growth and reducing income inequality
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The year 2019 marks the halfway point of President Rodrigo Duterte’s six-year term in office, following his inauguration in June 2016. The Philippines’ GDP has increased by more than 6% per year since 2012, making inclusive growth and the reduction of income inequality top priorities for the current administration. The successful implementation of public infrastructure upgrades under the Build, Build, Build programme is also an essential part of spurring sustainable growth, alongside efforts…

Analysis

Laying the foundations: Mid-term elections have given the administration leverage to enact constitutional and tax reforms
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President Rodrigo Duterte emerged invigorated from the May 2019 mid-term elections after his party dominated the polls, marking an endorsement of his policies and the administration’s performance since 2016. Nine out of 12 Senate seats were won by pro-Duterte candidates, with the remaining three taken by independents. The ballot gave the president a mandate to push through constitutional and tax reforms, which are intended to fund infrastructure development, boost job creation, lower inflation…

Interview

A holistic approach: President Rodrigo Roa Duterte, on enacting a suite of public initiatives to support private growth
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Interview: Rodrigo Roa Duterte How could the Tax Reform for Attracting Better and High-Quality Opportunities (TRABAHO) affect micro-, small and medium-sized enterprises (MSMEs)? RODRIGO ROA DUTERTE: The TRABAHO package is designed to strengthen the sustainability, competitiveness and productivity of MSMEs by lowering corporate income taxes. Since MSMEs comprise 99% of the country’s businesses and employ 65% of the workforce, TRABAHO will ensure near-term job creation. Moreover, the package will…

Analysis

Continental business: The region sees a raft of trade deals and disputes
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While 2018 is unlikely to be remembered as a period of cooperation on global trade, the year did end on a note of cautious optimism for its advocates when, at the G20 summit in Buenos Aires, the US declared a 90-day truce in its 10-month-long trade war with China. Observers hoped that this ceasefire would endure beyond the proposed three-month timeline and lead to talks between the leaders of the world’s two largest economies. However, in May 2019 the US government hiked rates from 10% to 25% on…

Analysis

Continental business: The region sees a raft of trade deals and disputes
OBG
plus

While 2018 is unlikely to be remembered as a period of cooperation on global trade, the year did end on a note of cautious optimism for its advocates when, at the G20 summit in Buenos Aires, the US declared a 90-day truce in its 10-month-long trade war with China. Observers hoped that this ceasefire would endure beyond the proposed three-month timeline and lead to talks between the leaders of the world’s two largest economies. However, in May 2019 the US government hiked rates from 10% to 25% on…

Interview

Strong ties: Teodoro L Locsin, Secretary of Foreign Affairs, on maintaining regional peace and stability
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Interview:Teodoro L Locsin Where do you see opportunity to reform the 1951 Mutual Defence Treaty (MDT) with the US? TEODORO L LOCSIN: The MDT has been effective in maintaining peace and stability in the Philippines and throughout the wider region since the beginning of the Cold War. Therefore, I am in favour of maintaining it in its current form. Altering the conditions that outline the mutual defence clauses that bring both countries together in case of conflict can be dangerous in two ways.…